ISLAMABAD: Finance Minister Miftah Ismail has said that his ministry will not enforce any more taxes and levies on petroleum products after dropping oil prices in the world market.
In an interview to a private news channel finance minister obviously said that the government cannot afford to subsidies petroleum products or bear losses.
There were extensively spread speculations that the prices of petroleum products will be reduced by 15 rupees per litre in proportion to the lower oil prices in the global market.
Answering to a question Miftah Ismail said that “it will be more appropriate and better if Saudi Arabia confirms about providing dollars for petroleum products”. “I will not comment further over this matter,” he added.
Read Also: Prices of Petroleum Products Expected to Be Reduced
He said the IMF had set a condition for Pakistan to arrange $4 billion worth of loans from anywhere before seeking help from the lending institution.” He said the country has successfully managed to arrange the required loan from some friendly countries.